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Propertymagnets

Lease Optioning a Fannie Mae Home

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Property Details: $159,900

Bedrooms: 3 Bathrooms: 2 Floors: 1 County: Snohomish Type: Foreclosure Style: Not Specified Size (approx.): 1519 Will Coop: Yes

Description:

 

Beautiful Condo. This is a Fannie Mae homepath property. Purchase this home for as little as 3% down! This home is approved for Homepath renovation financing. QUESTION: Is it possible for me to do a CLO with a T/B I find for this property?

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Got the answer to my question. Cooperative Lease Option with Fannie Mae not doable.

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Ahhh. . .CLO = Cooperative Lease Option. I call 'em CA's. . .Cooperative Assignments.

Whatever you call them, I didn't think Fannie was going to go creative and allow such a deal.

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Well MC,

Since I am learning and applying your wisdom to CA's I will use the same terms, p.98 of the manual :)

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